Bloomin' Brands, the parent company of Outback Steakhouse and Carrabba's Italian Grill, is experiencing a significant period of transition. CEO David Deno announced his retirement alongside the company's disappointing Q1 financial results, which showed a swing to a loss. Concurrently, Bloomin' Brands is exploring strategic alternatives for its Brazil business and implementing new strategic initiatives influenced by activist shareholder Starboard Capital. These changes come amid consumer pressures and a focus on driving traffic to its steakhouse and Italian dining concepts. The company's fine dining concept, Flemings, and other casual dining brands have seen an uptick in visits year-over-year in the recent quarter.
Applebee's owner Dine Brands wants to steal fast-food customers with its deals https://t.co/Wdt4mr7kd8
Here's how Starbucks gets customers to spend more money https://t.co/55SYDqNpV4
Price sensitive consumers pulled back from Applebee’s, IHOP in Q1. Dine Brands CEO John Peyton said more consumers are trading down for lower-priced items, but he remains confident in the brands’ promotional strategy. https://t.co/5AvcsjvkLU https://t.co/KWQQVGcjb1
Parent of Applebee's makes latest restaurant warning about consumer health https://t.co/UuFEqGoYTQ
Applebee’s, IHOP parent’s stock falls after profit and sales miss, as consumers express ‘price sensitivity’ https://t.co/oIQw8PGoQ6
Outback Steakhouse parent Bloomin’ Brands notes consumer pressures. Restaurant company focuses on driving traffic at steakhouse brand and Carrabba’s Italian Grill https://t.co/pqaj2VQn3y https://t.co/HP8DSer80V
Outback-parent Bloomin’ Brands notes consumer pressures. Company focuses on driving traffic at steakhouse brand and Carrabba’s Italian https://t.co/Tb5xgHOmMM https://t.co/6oz8DFBf7X
Bloomin’ Brands swings to Q1 loss, exploring ‘strategic alternatives’ for Brazil - my story for @MarketWatch $BLMN https://t.co/WSLA4E2xbi
Bloomin’ Brands swings to Q1 loss, is exploring ‘strategic alternatives’ for Brazil business https://t.co/5Y5aAU8FPN
The combination of the $BLMN CEO's retirement announcement, disappointing quarterly results, and new strategic initiatives indicates that Bloomin' Brands is at a pivotal moment in its history. The influence of activist shareholder Starboard Capital seems to be driving the…
.@Flemings, @BloominBrands’ fine dining concept, saw particularly impressive YoY of visit growth in February & March. Bloomin’s casual dining concepts @Outback, @Carrabbas, & @BonefishGrill also finished the quarter with March YoY visit upticks. $BLMN #fintwit #earnings
$BLMN | Bloomin' Brands CEO David Deno Retiring